CIBC Private Wealth Group LLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,714,144 shares of the oil and gas producer’s stock after purchasing an additional 356,521 shares during the period. CIBC Private Wealth Group LLC owned about 0.67% of Enterprise Products Partners worth $324,006,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of EPD. BlackRock Inc. increased its position in shares of Enterprise Products Partners by 12.9% during the first quarter. BlackRock Inc. now owns 18,705,833 shares of the oil and gas producer’s stock worth $411,902,000 after buying an additional 2,138,372 shares during the period. Alps Advisors Inc. increased its stake in shares of Enterprise Products Partners by 8.6% in the first quarter. Alps Advisors Inc. now owns 26,587,473 shares of the oil and gas producer’s stock worth $585,456,000 after purchasing an additional 2,110,695 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Enterprise Products Partners by 16.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 4,739,232 shares of the oil and gas producer’s stock worth $92,841,000 after purchasing an additional 653,492 shares in the last quarter. Clearbridge Investments LLC grew its stake in Enterprise Products Partners by 5.3% during the fourth quarter. Clearbridge Investments LLC now owns 9,783,342 shares of the oil and gas producer’s stock valued at $191,656,000 after acquiring an additional 493,805 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in Enterprise Products Partners by 151.7% during the fourth quarter. Jupiter Asset Management Ltd. now owns 809,661 shares of the oil and gas producer’s stock valued at $15,861,000 after purchasing an additional 488,012 shares during the last quarter. 28.59% of the stock is owned by institutional investors.
Shares of EPD traded up $0.23 during trading hours on Friday, hitting $25.28. 22,964 shares of the stock were exchanged, compared to its average volume of 7,058,733. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.65 and a current ratio of 1.00. Enterprise Products Partners L.P. has a 12-month low of $14.90 and a 12-month high of $25.09. The firm has a market capitalization of $55.24 billion, a P/E ratio of 14.65 and a beta of 1.40. The stock has a 50-day moving average price of $23.45.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 12th. Shareholders of record on Friday, April 30th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.12%. The ex-dividend date was Thursday, April 29th. Enterprise Products Partners’s payout ratio is currently 85.31%.
A number of research analysts have issued reports on EPD shares. Wells Fargo & Company boosted their price objective on shares of Enterprise Products Partners from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 13th. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $29.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, March 22nd. Finally, TD Securities started coverage on shares of Enterprise Products Partners in a report on Tuesday, April 6th. They issued a “buy” rating and a $28.00 target price for the company. Thirteen research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $25.50.
Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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